Saturday, October 2, 2010

How Much can I Earn ?

How Much Can I Earn

One of the the questions as an eBay consultant that I get asked on a regular basis, is " How Much Can I Earn ? In simple terms the answer is as much or as little as you want. Selling on eBay is like any other business, you need to buy low and sell high. While that is true you do need to factor in things like your ongoing costs such as fee's, packaging etc.

One of the exercises that I like to do with my clients, when I first sit down with them is to ask them,

@ How much do you need to earn this year to replace your salary. I then break this down in to a month, a week and then a day. By doing this it shows them in easy to understand terms what they need to sell.

@ Next I will take the product they are looking to make their living on, and find out the profit margins they have in it when they sell at Buy It Now prices.

@ Next I take off the eBay and PayPal fees, and any other costs involved.

@ What is left is the amount they make per unit sold. And in most cases it surprises them how much they need to sell.

When we have done this, we can run with the unit they have choosen, dump it because they would lose money if they sold it, or add another product into the mix. So before you start to sell an item, do some tsts and work out the figures.

Now the above works with Buy It Nows, when you sell second hand, collectable items you need to know your niche, buy low and sell high and if you keep to this you should always make money. If you would like to learn more hints and tips you can always pop over to my Facebook Fan page at http://www.facebook.com/MyAuctionEmpires and have a great day.